FY 24 APPROVED OPERATING BUDGET

GLOSSARY

SUPPLIES AND MATERIAL Covers consumable supplies and materials necessary for normal operations including printing and office supplies, postage, janitorial supplies, and safety equipment. TAX Compulsory charges levied by a government for financing services performed for the common benefit of the people. This term does not include specific charges made against particular person or property for current or permanent benefit, such as assessments. TAX LEVY The resultant product when the tax rate per one hundred dollars is multiplied by the tax base.

TRANSFER TAX A 1% Transfer Tax on any instrument of writing that convey title to, or a leasehold interest in, real property. The proceeds are distributed 50% to the County's Agricultural Land Preservation Program, and 50% to fund school site acquisition, school construction or school debt service. TRANSFERS IN/OUT Amounts transferred from one fund to another assist in financing the services for the recipient fund. TRUST FUND A special fund, administered by the County as trustee, consisting of resources to be expended or invested under the terms and conditions of the trust.

UNRESTRICTED NET POSITION Surplus funds from prior years used to finance current year operations. USER CHARGES Fees levied to support specific programs and services and paid only by those directly receiving or benefiting from such programs and services as opposed to the general population. VISION An ideal perception of the future and serves as a foundation for strategic planning. 522 of the County Charter which requires "Separate budget for each utility to be included in the current expense and capital budget." The fund covers the operations of the County's water and sewer systems. The system is financed primarily through charges to customers for services provided. WATER AND SEWER DEBT SERVICE FUND Includes the payment of principal and interest on long-term water and sewer bonds and loans. Th debt incurred funds Water and Sewer capital projects. User fees and surtaxes generate the revenue for this fund. WATER AND SEWER FUND Established in accordance with Section

TRAFFIC CALMING A program wherein the community and the Department of Public Works work together to slow the pace of residential traffic through subdivision roads. The Traffic Calming program is directed at communities with high traffic volumes, high speeds, small lot sizes fronting the subject road, and through traffic.

UNASSIGNED FUND BALANCE An available balance here is the cumulative result of actual revenues exceeding expenditures for the current and prior fiscal years. This represents that balance available that is unassigned or not designated for future year's expenditures.

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